13th Feb 2024 11:26
Schroders Capital Global Innovation Trust PLC - London-based investment trust focused on a portfolio of "highly innovative" companies - Receives a USD5.6 million payment from Basel, Switzerland-based pharmaceutical firm, Roche Holding AG, in relation to the sale of its portfolio company Carmot Therapeutics Inc. Carmot is a Berkley, California-based biotechnology company currently focused on developing treatments for obesity and diabetes. In December, Carmot entered into an agreement to be acquired by Roche for a USD2.7 billion purchase price, alongside up to USD400 million in milestone payments. Schroders says that the USD5.6 million distribution represents a 221% fair value uplift relative to the value of its holding in Carmot of GBP1.4 million in September. Read More
